Standard & Poor's this week raised its long-term and underlying rating on St. Clair County to AA from AA-minus based on the county's strong reserves.
Located in southeast Michigan along Lake Huron, St. Clair County enjoys a growing population and tax base as well as strong wealth and income levels, analysts said.
The rating move comes as the county prepares to sell limited-tax general obligation bonds to build public-safety communication towers in two of its municipalities. "The upgrade reflects the county's maintenance of strong reserves, including additional liquidity in its delinquent tax fund, and good financial management policies," said analyst Justin Formas in a release on the upgrade.
